307295574

Riding the Wave: Anticipating Future Growth and Demand Patterns in the Bicycle Industry

Comments · 51 Views

Riding the Wave: Anticipating Future Growth and Demand Patterns in the Bicycle Industry

The global bicycle market in 2022 was US$ 1,300 million and is estimated to be US$ 2,650.23 million in 2023. The bicycle market is expected to increase at a CAGR of 8.92% between 2023 and 2033, totaling around US$ 6,229.4 million by 2033.

Key Takeaways from the Bicycle Market Study

  • The global bicycle market expanded at a CAGR of 7.42% between 2018 and 2022.
  • Based on the product segment, the road bicycle market had a revenue share of 70%.
  • Under the end-user segment, men sector held a significant bicycle market share at 75%.
  • Based on the technology segment, the conventional sector dominates the market share of 80%.
  • North America is forecasted at a market share of 42.8%.
  • Europe’s market is anticipated to increase with a market share of 38.4% in the bicycle market.

Request Exclusive Sample Report: 
https://www.futuremarketinsights.com/reports/sample/rep-gb-15196

The increase in global bicycle market rises as customers prefer bicycles as a form of leisure increase. Maintaining an active and healthy lifestyle, and a life free from numerous ailments, bicycles are considered to be a handy method of exercise that is in great demand among consumers.

Expansion in the demand for bicycles is rising globally as a result of a boost in public awareness of the health benefits of cycling. Dockless bicycle-sharing programs are gaining popularity at a significant pace among the general public, which is anticipated to support the expansion of the world bicycle market.

“Developments in GPS technology and Mobile App development is one of the key drivers of the bicycle market”, comments a Future Market Insights analyst.

Market Competition

Key players can create and advertise new, better goods at high price points to obtain a continuous competitive edge in the bicycle market. Additionally, a few significant bicycle market players are increasing their bicycle market share by choosing techniques including mergers and acquisitions, partnerships, and collaborations. 

Read more at: https://www.futuremarketinsights.com/reports/bicycle-market

Recent Developments Contributing to the Growth of the Bicycle Market

  • Yulu is an app-based platform that offers on-demand bicycle/e-bike rentals in a few Indian cities. Through a mobile app, the business offers GPS and Bluetooth-enabled bicycles and electric bikes for rent. By scanning the QR code on the bicycle to unlock it, the user can ride after viewing nearby available bicycles on the app.
  • Pony is an app-based platform for dockless bicycle rentals in a few locations across Europe. The software allows users to find nearby vehicles that are available and lock/unlock them by scanning a QR code. Users may leave the bicycle at any authorized spot when they reach their destination.

Get more trending research reports:

Automotive Lead Acid Battery Market

Automotive Wiring Harness Market

Hybrid Vehicles Market

Ship Repair and Maintenance Services Market

Micro-mobility Charging Infrastructure Market

 

Comments
About Mi Media Welcome, to Mi Media India's Multinational Social Media Networking Platform. With all new feature, user can upload daily diary, selfies, story posts, photos, video status, reel etc. Mi Media is an unit of Mi Media And Web Solutions Pvt. Ltd. Company established in 1995 as propriter form but it was registered as Pvt. Ltd. Company in 2012. We have upto 2 decades small but very hard work Experience. We believe the team, which is always ready to innovate. The Team leader at MI Media comprises of experts in business consulting, technology strategy, marketing and sales, with experience in Media sectors. They bring with them sound knowledge of the related industry with focus on innovation and business results. We also support Social Digital Media, Divine, Entertainment, services, throw Satellite Video Rights, Broadcasting Web casting Mobile Telephone Cyber Space Rights. We have also own audio - video and web studios, which operated by the Professional Team.